Technological innovations, particularly in the communications fields, have led to improved systems and method for efficient delivery and analysis of information. For example, documents previously delivered by facsimile often required manual data entry to permit the accurate analysis of specific information within the documents. Now, electronic mail (e-mail), instant messaging (IM), file transfer sites, such as using the file transfer protocol, allow the quick delivery and utilization of large amounts of information.
Following this trend, transactions of many resources can now be conducted electronically. Financial institutions began allowing individuals to apply for and manage resources, such as lines of credit, using electronic mechanisms. While certain aspects have increased latency periods, certain aspects still lag behind ideal conditions.
Many techniques for processing applications for certain resources, such as revolving credit accounts, use inefficient and/or inaccurate measures to determine whether to provide the resource to certain individuals. This is especially true for certain individuals, who are less likely to default, and thus should be approved on a quicker pace in certain instances.
Currently, analysis of credit scores and an estimated loan-to-value (LTV) provided by third-party credit bureaus are used to determine whether to provide a resource. Unfortunately, the estimated LTV alone is often insufficient and/or outdated to assist making a reliable determination. Similarly, a credit score only provides certain information that is either only partially helpful or not helpful at all. Furthermore, this information may be outdated, and credit scores may actually increase as consumers take out more credit, thus potentially increasing the percentage of credit already being utilized by a consumer. Nonetheless, many current systems and methods do not provide enough pertinent and/or accurate information to allow a quick determination regarding whether to provide a resource, such as a revolving credit account, to the consumer. Unfortunately, delays in processing applications may lead to an entity losing an individual as a potential consumer, or retaining one. Without the resource, whether a physical good (such as an automobile) or service (such as providing a line of credit), the consumer may have trouble retaining or obtaining employment, necessities, or even other items they wish to seek. Further, many current systems cannot allow a third party to determine whether to pre-approve a specific individual and/or to invite a consumer to apply for a resource.
Systems and methods that improve upon one or more of these and other deficiencies would be desirable.